5 July 21

Bicycle subscription firm Bike Club goes up a gear

Triple Point Leasing and Lending is delighted to announce a £7.5m debt facility funding into the Bike Club, the UK’s first monthly kids bike subscription service.  
Founded in 2016 by husband and wife team, James Symes and Alexandra Rico-Lloyd, the Bike Club is playing a major role in getting children into cycling. The monthly subscription service makes high-quality bikes more accessible to parents. The bikes can then be exchanged at any time as their child grows to ensure they always have the perfect-sized bike – eliminating the throw-away culture that was previously commonplace. 
Gavin Maitland-Smith, head of structured finance at Triple Point commented: ‘’The Bike Club is an extremely innovative business, and one that we’re excited to be supporting. As families look to access high-quality cycling equipment through easy to manage payments, more and more people are seeing the value of a subscription-based service. With demand for cycling at its highest level in decades, Triple Point is proud to support the Bike Club in getting thousands of families on two wheels.” 
Triple Point's Leasing and Lending businesses are well-capitalized, well resourced, and liquid. The team remains committed to helping borrowers find their way through challenging times and enabling them to maximise their growth potential. Find out more here – https://bit.ly/3v4uX9v 

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Read the announcement here – https://bit.ly/36sUfnf 
Find out more about The Bike Club here - https://bit.ly/2VgcUAc